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20121027
20121104
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CNBC
Oct 31, 2012 4:00pm EDT
in new jersey with governor chris christie touring some of the hardest hit areas of the state. is this brigantine, nng? this is certainly new jersey and we want to show you some of the other pictures if we can and take you back to the president and governor christie to get their statements as they spent the day today touring some of the worst and hardest hit areas of jersey. as we wrap up an ugly month meanwhile for wall street, the dow jones industrial average is down better than 3% on the month with the other major indices not faring much better. mandy drury is here with the october losers and a couple winners as well. >> absolutely. here are some great stats dug up by our cnbc crack data team. all three indices are breaking their four-month winning streak, as for the nasdaq 100, quite a lot of ugliness there on track for its worst october since 2008. it was october 2008 when it fell 16%. as for tech and telecom two of the worst performing sector this is month down more than 4%. apple for one is down over 10% for this month, and that is its largest monthly percentage drop ma
CNBC
Oct 31, 2012 7:00pm EDT
a fellow local, and that's chris christie, a governor who if you do what i do and still take your family to the boardwalk on weekends and seaside, point pleasant, it's a very good chance you'll see the governor of your state with his family as his parents took them there, because it's special to us, and he was saying he can't speak for all the privately owned places like this, a lot of the jersey shore, a lot of the boardwalks are a private concern. but boy, he wants to come back. this is part of the beating heart, the economic engine of the state of new jersey on down through delaware, maryland, on up through new york and new england. it's hard to imagine the east coast without a beach. the east coast without the jersey shore. >> brian, you're absolutely right. thank you, great reporting. don't forget, you can see him tonight. >>> is there any way power companies can keep their six million customers living in the dark satisfied with their service? president obama spoke to our next guest yesterday from the situation room about how to eliminate any bureaucratic roadblocks that delay the p
CNBC
Nov 1, 2012 5:00am EDT
or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we know this is one of the hartest hit areas. with you tell us how extensive the damage is? >> all of those popular summertime vacation communities are cut off from society. and there are stand reminders, bits of people's lives ripped to shreds. people here beginning a third day without power. millions of people throughout the state have no power. they are really getting ready to get back to life as normal. many walking around just wanting to get over to the jersey shore, those that have being a straighted, straigh to see what was left. and they can't do it possibly for a couple days because of the safety issue. just yesterday we got to see the streets filled with sand and the homes ripped from the foundat n foundations as emergency crews went door to door to get everyone out. now they're focused on the restoration, making those communities safe so they can begin letting people to get back to their homes to see what
CNBC
Oct 31, 2012 1:00pm EDT
to get aboard one of those two helicopters, along with governor chris christie of new jersey, and first do a helicopter tour of some of the devastation in the atlantic city area and up and down the jersey shorelines. then he will get out and go on foot in to some of the areas. we'll, of course, follow that story for you and bring you the images as we get them in the building here. right now, meantime, let's turn to some of the numbers for this storm. 6 million people remain without power because of the storm, including almost all of lower manhattan with the notable exception perhaps of the new york stock exchange. another 3,000 flights have been canceled today. and three u.s. navy helicopter carrier ships have been dispatched to the new york area to help with recovery efforts. 20,000 people, including one of our producers, remains stranded in hoboken due to massive flooding there. this is just the latest video from that town. it's just west of new york city, home to many people who work on wall street. at one time, the former governor of this state, jon corzine and the quarterback of th
CNBC
Oct 31, 2012 4:00am EDT
before and after the storm. governor chris christie, who toured his battered state by air, described what happened as unthinkable. >> the devastation that's happened to new jersey is beyond what's happened to anyone else, at least in the reports i've seen so far. it comes as no shock since the storm made landfall here. >> it hit just south of atlantic city, the gambling and tourist destination, leaving residents who defied the mandatory evacuation order stranded. dozens had to be rescued from shelters of last resort where the power failed. in northern new jersey, more search and rescue. after a tidal surge pushed a river over its banks. residents said the water rose five feet in a matter of minutes. >> it was like a lake in our basement. and it filled up all wayp to our stairs. >> there was no phone lines. electricity was out and all our phones were out. we couldn't call absolutely nobody. >> reporter: across the state, 2.4 million customers, 60% of the population, have no power. the worst of it was probably right along the coast, in towns like point pleasant beach, where this morning som
CNBC
Oct 30, 2012 7:00pm EDT
for the past two days. president obama will be looking at the devastation with dpgoverr chris christy in new jersey. let's get to todd gross tonight who is tracking the storm over the new york east. >> reporter: you may not believe this. sandy won't quit. if you look right here, there is a new belt of showers and thunderstorms that have formed. gusty storms that are affecting that wart of the country. even the north eastern united states on the coast line is in part of the storm. right in through chicago coming in through the great lakes that is where the winds are funneling in from the north. same winds edge of the storm that moved in on the coast line. that is number two. and three of course, we have a lot of air play in through here. let's zero in on west virginia. it is not only snowing there, they have had over two feet around 30 inches of snow. if you look at the video, from west virginia and from the western pan hand handle of mary they have had not only 30 inches of snow, but another foot that is going to come in the next 24 hours. even though the really big punch from sandy is over,
CNBC
Nov 2, 2012 7:00pm EDT
this guy is in charge. who would have thought that the october surprise would turn out to be chris christie who keynoted the republican convention, looked at what the president was doing, said he was incredible. if you saw it today, they asked are you still in contact with the president? he said, i'm talking with the fema guys all the time, they're doing everything they want. >> i think that's right. i acknowledge that on the show, bob shrum. i want to go to my friend, ed rogers. >> hey. >> that's when obama was on the beat. first he was in the white house in the oval office. then he traveled. then he walked with chris christie. okay. he was doing his job. now he's back on the campaign trail. i point i'm making, ed rogers, is this. the aftermath, you know, sandy is officially over. whatever that means. but the aftermath has been brutal. much more brutal than people thought. and it extends to almost a third of the country, ed. and somebody often takes the blame who shouldn't take the blame. obama's campaigning. who's taking care of these kids? >> sure. >> in staten island who horribly, tragi
CNBC
Oct 31, 2012 5:00am EDT
to new jersey this afternoon to meet with governor chris christie, who is paying him some compliments earlier. he's going to tour the storm damage to the jersey store, specifically atlantic city. and mitt romney will resume campaigning today in florida. for more on this, ben white, wall street correspondent and author of "morning money" will join us in just a short while. stay tuned for that. we'll be right back. ♪ ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >>> president obama plans to fly to new jersey this afternoon to meet with governor chris christie and tour the storm damage to the jersey shore, specifically atlantic city. mitt romney is going to resume campaigning in florida. joining me now is ben white. how does this play out into the election next week? the president is going around looking presidential, i suppose. >> yeah, that tends to help a sitting president. and i think to the extent that it has any impact, i'm not sure it has a big one, it's probably helpful to president
CNBC
Oct 31, 2012 12:00pm EDT
to normal. >>> millions still remain without power. president obama and new jersey governor chris christie are set to survey the damage in atlantic city. kayla tausche is there, she was there when the storm came in. she remains today. kayla? >> reporter: that storm summit is set to take place very shortly right here in atlantic city. president obama was just about an hour ago at the headquarters for fema in washington, d.c. before making his way up here to atlantic city. of course this meeting is very important, because governor chris christie has said over and over again that fema will play a huge part in the recovery following the wreckage here in new jersey after landfall on monday. you can see the shrapnel from the northernmost end of that iconic boardwalk. many houses also damaged. even some of the residents that have chosen to stay are starting to get power back and starting to assess the damage and start the rebuilding effort. many residents were using the power to get pumps and start pumping water out of their flooded homes. meanwhile, parks of the boardwalk remained. bull dozers a
CNBC
Nov 1, 2012 4:00am EDT
in the states are not so stupid as to change their mind in the last couple days given what chris christie said. they've made their opinion up on a longer term basis. so if they haven't changed their mind in the last 72 hours, is it a question of getting them out to vote on or will they vote or not on the back of recent events? >> i think it's getting them out to vote and i think this particular storm could have an impact in certain parts of the companies. it could closer the number of democrats that will come out. i think republicans are determined to come out and vote on the day. >> there are pictures of the republican chris christie walking around with the president. and he was talking about bipartisanship and his entire time in office has been hig but. so as we come up to another election to see both sides coming together for a major event, does this make any difference at all in the psyche of americans some. >> i think it makes people on the ground feel better, but this is about what happened in katrina. president bush made real mistakes. i think the president has let the mistakes of the p
CNBC
Oct 29, 2012 7:00pm EDT
of sandy's landfall. chris christie noting that a lot of these people are unaccounted for. may be too late to get them until morning. 250,000 people without power here so it's going to be a long night if you're on one of the barrier islands. >> just lost her shot there. >> be safe. haurricane sandy is forcing several major oil refineries to shut tight and you know what that does to gas prices. mary thompson is live from baltimore. >> reporter: hey, bill, you know, brian schactman on live and sandy is south, of course, of the storm system, the storm north, and that's where the refineries in the northeast are located. now, in the wake of today's storm, and, of course, pending what happens tomorrow, a couple of refineries and some pipelines have shut down. let's give you the rundown. the linden refinery in new jersey or the phillips 66 shutting down completely along with the hess refinery. we have three others that are running at lower run raise, basically operating at very minimal levels, but they can get up and running again once the storm has passed. there's one refinery that was recently
CNBC
Oct 30, 2012 4:00pm EDT
and mitt romney supporter chris christie setting politics aside because of sandy. how will the superstorm impact the presidential election just one week away? i'll speak with pennsylvania governor ed remember dell on the back half of this show. don't miss it. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than manual brushes and even up to 50% more than leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. oral-b power brushes. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> welcome back to our special coverage. the nor
CNBC
Oct 29, 2012 5:00pm EDT
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CNBC
Nov 1, 2012 6:00am EDT
a stir at the time. back to you. >>> coming up, chris christie touring the carnage. millions still without power. mass transit trying to get back to line. we'll get a progress report. >>> this morning not a lot of movement. yesterday the sale. things orderly in the first day of trading since everything was shut down because of sandy. this morning futures down by about two points. nasdaq up by about 2 1/4 points. >>> jfk and newark airports both operational on wednesday, but saw very few flights. jpk is seeing more arrivals than departures, but net back to normal. courtney reagan is at laguardia this morning. >> reporter: good morning. so we haven't yet seen a plane take off here. the first plane is scheduled to take off in about 40 minutes from now. i've been here for over an hour and i got to say, i have never seen laguardia so quiet. i think there are more employees here than passengers. and i went counter to counter and american airlines basically said when i asked how many flights were scheduled to take off, it is very, very limited. he said it will keep changing all day long.
CNBC
Nov 1, 2012 3:00pm EDT
easier because new jersey governor chris christie signed a waiver allowing this to happen. nevertheless, the crucial element here remains power. if you get power, you can get the gas stations up and running again and the terminals up and running again as well. that's what we're waiting for. guys, back to you. >> it's a crazy situation. kind of a daisy chain waiting to be solved. mary, thank you. let's get some insight on the crazy gas situation. >> yeah, joining us now from tulsa, oklahoma, is randy fouch, ceo of radar petroleum. >> good afternoon. thanks for invitining us. >> what a situation we find ourselves in. how is the storm affecting oil and gas from your stand point? >> first off, our thoughts and prayers for all the people really impacted by this. but this isn't really a gasoline problem. nor is it particularly a refinery problem as we've heard. it's an electricity problem and the damage to the local electrical supply. it's a terminal problem. the refineries have storage. some of them are back up. it's that last road from the terminal to the gas station and the gas station bei
CNBC
Oct 31, 2012 6:00pm EDT
republican governor chris christie could produce what could be the biggest public works project in a generation, to meet and entrust that national emergency. remember when president obama was elected, he said he'd put a lot of people to work in shovel-ready job. turned out there weren't that many jobs that were ready in. the wake of sandy, i don't think there are enough shovels ready for up and down the jersey and new york coast. these jobs will be created. this destruction, estimated between $30 billion and $50 billion. i think it's going to exceed that. maybe at least get to the high end. will finally move the employment need until this country. now, when we look at industries that have been hardest hit since the great recession, the one that stands out the most is the construction business. construction business is about half of what it was six years ago. the culprit, banks that are afraid to lend, excess of homes, no need for new buildings and roads. the federal government doesn't need loans from banks. the federal government can cut immediate checks to get work done. the fe
CNBC
Nov 1, 2012 4:00pm EDT
chris christie. it might fprovide a little relif at pump. certainly the most relief would come if the power was turned back on. >> all right, mary. thank you so much. are we destined to sit in these long lines for the next two weeks? what's your expectation? how long does this last? >> i think maybe another week. we have to get the power restored to some of these facilities. in addition to the discreet things like gas stations lacking the power, we've got one of the refineries in the region in new jersey that's out, that they hope to start up later this week. the colonial pipeline which brings refined petroleum products from the gulf coast up to the northeast and new york, that's going to reopen tomorrow. a number of the harbor ports where gasoline and oil imports are coming in from europe and elsewhere, those have been closed and flooded because of flooding and power losses. but on the whole, because the airports have been closed and because a lot of other people weren't driving, not just in new york and new jersey, but in the region, gasoline and other oil product demand is
CNBC
Oct 30, 2012 1:00pm EDT
the aftermath in point pleasant, new jersey. governor chris christie calling you the damage unthinkable. the streets remain flooded. debris liters the beach. it could take months to clean it all up. >> look at the sand. >> i know. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may
CNBC
Nov 1, 2012 1:00pm EDT
made easier, given a waiver signed by new jersey governor chris christie. additionally, the epa is waving clean gas requirements along the east coast through november 20th so assure adequate supply after sandy. but again, the real problem right now is the lack of power. tyler, back to you. >> i'll toss it down to simon. >> tyler, let's take it back up a step. as you said, the hold-ups are also coming through in the storage facilities, the storage facilities are as important as, of course, we just heard from the pump face there. kate kelly is at a terminal in new jersey for more on that. kate? >> reporter: simon, things are very grim here in new jersey, standing next to an administrative building that was battered in the storm. in the coming days, workers wearing steel-tipped boots will be walking through things like raw sewage, stimber and reeds i order to retrieve company documents. glass is shattered, the refrigerator is floating and they've even seen raccoon tracks inside. this isn't even where they store the all-important fuel. terminals like this one, about 15 to 20 of them
CNBC
Oct 29, 2012 12:00pm EDT
. unfortunately i have to interrupt you. let's listen to new jersey governor chris christie who is at a briefing. >> the president responded very quickly and the staff at fema, craig fugate and his staff, are outstanding folks. they helped us with our pre-landfall application to make sure we didn't have to go through -- oftentimes you go through a few drafts back and forth to make sure it has all the information you want. they helped us up front to make sure when we sent it in it was perfect the first time from their perspective. the president assured me yesterday on the telephone we'd get his immediate personal attention. obviously it did. he signed it late last night. so it's going to allow us to have access to federal funding and federal assets we otherwise would not have without the preland fall declaration until after it was over when we asked for some declaration of emergency afterwards. we appreciate the president's efforts in that regard. he and his staff worked tremendously hard. >> has the storm gotten more intense than -- what does that mean for the area of the impact or the size? >>
CNBC
Oct 30, 2012 9:00am EDT
jersey governor chris christie made some very, very dire assessments to what he expects the damage will be in atlantic city and on the jersey shore. take a listen. >> i think what we'll find, unfortunately, when we get to the jersey shore today is total devastation. and that's the real concern. because not only is it people's homes and private property but also you have the tourism industry in new jersey which is one of our biggest industries. we're going to have to work hard to make sure we're ready for next summer at the jersey shore. >> reporter: now, of course, the casino industry the biggest industry in atlantic city. those 12 flagship casinos have been closed throughout the week. they cost about $50 million in lost revenue during irene and the expectation was that because the season was a little bit softer, maybe it wouldn't be as bad. now it's clear that even though as christie called it the damage is incalculable right now it will be much steeper than irene. hopefully we'll get more from christie later. a few other buzz words, search and rescue teams went out at 5:30 trying
CNBC
Oct 31, 2012 6:00am EDT
today for the president. he's coming down to new jersey. he's going to join governor chris christie in viewing the storm's damage, talking with citizens who are recovering from the storm and thanking the first responders who put their lives at risk to protect their communities. as a result, the president is not going to participate in the campaign event that had been scheduled today in ohio. joining us now from washington with more on how sandy is going to impact the election is our chief washington correspondent john harwood. one thing i keep hearing, john, just aside from this, is all these first responders and volunteers going in to save people that ignored what they were supposed to do, and you've still got to go in with a smile on your face, and it's like here you are, again. you know, up on top of a dresser with eight feet of water, when you knew full well that you should have left. and we will save you again. what are you going to do? you can't get mad and say i'm not going to tell you, but people don't leave, john. >> that's what governor work is all about. it's not easy. yo
CNBC
Oct 31, 2012 9:00am EDT
there is atlantic city in real life. you realize that chris christie had what we were looking for on google maps. suddenly you realize, holy cow. this is katrina-like. loss of life, no. but property. where did it go? >> the mayor is going to ring the opening bell here this morning. the president apparently reportedly this morning wanted to visit manhattan. bloomberg said i can't spare the cops right now. he's going to instead visit the jersey shore with governor christie. that's the level we're at where we're not able to receive the sitting president of the united states. it says a lot. >> seaside heights, jersey shore show, very hard hit for those mtv officials. >> the jersey shore of my youth is gone. amazing pictures. >> the sand in the middle of -- we don't know anything because if you look at long beach island, there's sand everywhere. you can't get to it to figure out how much money and property. it's property. >> true enough. back to the exchange, bob pisani has been on the case all morning long regarding how we're going to trade today here at nyse. good morning, bob. >> good morning. i'm
CNBC
Oct 29, 2012 3:00pm EDT
missed your window to get out. even if you are trying to get out, you can't go anywhere. governor chris christie has closed 130 miles of highway. so, new jersey residents here, thousands of them without power, but many glad it's coming earlier than expected, hunkering down and hoping the worse will pass shortly. >> thank you very much. we'll be checking back. >> we're watching that picture very carefully of that high rise that's been under construction for several months in midtown manhattan. eventually going to be 90 stories high. and that crane that sits atop it, you shouldn't see that portion dangling that's sitting parallel to the building itself. that has been a partial collapse of that crane there. our robert frank is on the phone. you've covered that high rise on wealth report. it's been under construction for a while. what can you tell us? >> reporter: as you mentioned, this is a very high-profile building to begin with. 90 stories tall. several of the penthouses have sold for more than $90 million apiece. so, we have several billionaires living in this building. the reason it's
CNBC
Oct 30, 2012 3:00pm EDT
york and new jersey. the president will travel to new jersey tomorrow where he'll join governor chris christie in viewing the storm damage. much of new york and new jersey remains paralyzed with power outages, flooded roads, and debris. governor cuomo said this is the worst storm he's ever seen in new york city. public transportation remains shut down as many subway stations are flooded. mta officials say the damage is the worst they've ever seen in the subway's 108 year history. airports are beginning to open up. jfk will open tomorrow. washington and philadelphia have been partially restored as far as service is concerned today. bill, back to you. >> courtney, thank you very much. so it's all systems go at the new york stock exchange tomorrow. the nyse and nasdaq confirming they will be opened and fully operational come tomorrow. >> on the phone now, sam from s&p capital iq. thanks for joining us. s&p capital iq down the block from the new york stock exchange. what have you been hearing about your offices reopening tomorrow? >> hey, maria. we know the electricity is turned off. just
CNBC
Oct 29, 2012 1:00pm EDT
. governor chris christie, you heard him a little bit earlier. he said in some parts of atlantic city flooding is up to five feet. and also we heard from public safety director william glass who said the entire city of atlantic city is under water. the damage already worse than 1962 on the flooding side there. take a look at this picture from nbc 10's ted greenberg. parts of atlantic city boardwalk broken and floating down the street. that's from earlier this morning. we talked to all the casino operators from there on the boardwalk but still have no comment from them and their operations and how they will continue following this storm. long beach island is a popular vacation spot for wall street. nearly completely flooded right now. the ocean and the bay close to meeting in long beach island. let's also think about when this high tide is expected to hit later today. you can see the wind is picking up and the rain is picking up. we expect this to take place throughout the afternoon, guys. we will have more from cape may as we have it but you can see the storm is definitely ramping up.
CNBC
Nov 2, 2012 1:00pm EDT
at the republican convention, chris christie, very tough critic of the president otherwise. so i don't think many voters are going to blame president obama for what's going on right now, and leave aside the fact that the states in which the difficulties are occurring db new york, new jersey, connecticut are all reliantly democratic states. what is much more important to the outcome of this election, michelle, is what's going on behind me at this afl-cio phone bank where union volunteers are making calls, doing the painstaking work of identifying callers and getting them to the polls. the chamber of commerce told us they're making millions of phone calls in the final days. interest groups aligned with both campaigns are going to do this non-stop between now and tuesday. of course, many voters have already cast their ballots because of early voting in this country, michelle. but there's a lot of work left to go. the candidates are sprinting and so are the volunteers. >> john, thank you very much. stay there because we're going to come back to you in just a moment. there is that other story that has
CNBC
Nov 1, 2012 12:00pm EDT
. governor chris christie of new jersey signing a waiver to allow this, it should provide a little relief, but until the power ice back on, we're likely to see these long lines continue. the price of gasoline that we are seeing at this rest stop is just about 3.55 for a gallon of unleaded. about a nickel above the national average, so no evidence of price gaunlging. >> thanks so much. out on the new jersey turnpike. following the gasoline story. so, how bad is the situation likely to get and is any relief in sight? the executive director of the new jersey gas and automotive association is live. thanks for being here. >> good to be with you. >> you know, these lines are difficult to see. when you drive anywhere around northern new jersey, in many places where what we call the tristate area, lines are awfully long. when is that getting better? >> i can't predict exactly when you'll see relief, although i expect the situation should be eased by the weekend and into early next week and you have a multitude of problems. which you were just covering on your broadcast. and it's a puzzle that has
CNBC
Nov 2, 2012 12:00pm EDT
by hurricane sandy. governor chris christie allowed gambling to start up again as early as 10:00 a.m. eastern today despite some of the devastation there. but looks like some folks will be getting back to work. most importantly. then other folks obviously will have an opportunity perhaps for some leisure in the face of all this. >>> czr the most impacted. >> this is the first bit of good news they've had in a while. just a couple days ago they announced they weren't going to be expanding into macao. they got a downgrade yesterday, i believe. this is good news for both caesars and for those employees who need the job, as well as people who would like to get out and get away from some of the negativity. >> you could seat intraday move. i think we saw pretty good spike on the news. yeah. high for the day for caesars, it is a $6 stock but a little bit of a move up around 1%. >>> the last thing the northeast needs is another storm but that's just what it may get as soon as next week. the weather channel is following the new storm's path and intensity. tom, say it ain't so. >> well, it is going to
CNBC
Oct 30, 2012 5:00pm EDT
with governor chris christie. earlier today the president said the government will do everything it can do get resources to local governments. and new images are emerging from the destruction. check out this shot of a parking lot full of cabs in hoboken, new jersey, it is literally under water. and this photo taken from union beach, new jersey. pretty harrowing stuff. and finally, some good news for air travel. new york's jfk airport is set to open tomorrow in both washington and philadelphia airports are back operating today after more than 18,000 flights were canceled as a result of superstorm sandy. melissa? >> courtney, thanks for that rundown. our very own scott cone has been braving the storm from manhattan's battery park. he joins us with the latest on how lower manhattan including the financial district has faired in sandy's wake. scott? >> reporter: melissa, if you consider the fact that the stock exchanges are going to re-open as well as the kmcommodity exchange, the new york merc in the financial district i suppose it faired pretty well considering they'll get back up and running af
CNBC
Oct 30, 2012 6:00am EDT
was incredibly desire and last night governor chris christie made harsh words about those who chose not to evacuate. and saying the mayor had gone rogue and heeded people that can't need to heed. christie saying if you were stranded in atlantic city, you had to wait until daylight to be rescued. they just could not send emergency responders. and you can tell by the fact that even two dozen people who were at shelters had to be evacuated from the shelters because the flooding and the situation there got so bad. now of course overall, we'll have to wait until daylight for the damage lear to be assessed. we have high tide in just a few more hours which could possess more flooding risk, but people think the swors ovworst is over. >> we're glad you're still safe there. 8:37 is high tide and that is expected to bring more concerns about flooding. we'll check back in with her later this morning. the new york stock exchange and nasdaq will both be completely shut down for a second day in a row. the bond markets are closed today, as well. futures are continuing to trade. those prices will be
CNBC
Nov 2, 2012 6:00am EDT
about. new jersey governor chris christie lifted a ban on out of state fuel purchases yesterday, that should remove one piece of red tape at least and importantly a large section of line number three of the colonial pipeline which brings jet and auto fuel to the city was restarted around 9:00 p.m. last night, that's a crucial piece because that was causing another chokehold on supplies. still these troubles are likely to persist until a greater percentage of the area's terminals, refineries and pipelines are back in full operation, you guys. yesterday as a 5 million barrel terminal operator in linden told me he was not able to get his marine terminal back in order for another four to six weeks. at the same time he's laboring today with the help of a backup generator to get at least one if not two truck racks open for use by noon, the trucks can resupply their tanks and bring them to gas stations so joe maybe it will come to your neck of the woods within the next week, we hope. >> we got the double whammy because most gas stations don't have power. they have gas. >> that makes yo
CNBC
Nov 2, 2012 9:00am EDT
, the bipartisan cooperation that he demonstrated with chris christie, trying to make the point that this is when america is at its best. now he's got a better than expected jobs report and he can say america's coming back, home values are rising. we had the most private sector hiring in eight months. all those are elements of the president's argument. of course, mitt romney's argument is going to be is this the best we can do? we can do better. he has already been saying that earlier today, saying the president says this is the best it can be. i say it can't stay this way. there you have the two arguments framed as we go to a final weekend with the polls nationally showing a dead heat and in the swing states a slide advantage for president obama. >> obviously it's all happening, the theater of it is happening in the crucial states. the governor is in wisconsin today. as we can see, the president in ohio. you look at the top of drudge, john, and it's all about the complications of the recovery, the gas lines, the frustration. how much vulnerability does that leave the president even though he may
CNBC
Oct 29, 2012 6:00am EDT
of commerce. ghuf chris christie ordering the vak ace of some 40,000 residents and all local businesses including the 12 flagship casinos. some stubborn locals want to stick it out, but for those, an emergency spokesperson said talk to someone who tried to ride out the storm of 1962 and see if they would do it again. and that storm wasn't even a hurricane. it was nor'easter. and hurricanes actually making direct landfall on the coast of new jersey a very rare occurrence. it's actually only happened three times ever. two unnamed hurricanes in 1978 and 1903 and hurricane irene making landfall as a tropical storm in aufg gust of 2011. when we talk to local business owners, they said the hit from irene was closing down business right ahead of labor day. this time the damages will be much worse. >> business interruption is a huge thing. irene was well over a million dollars because it was labor day weekend evacuation. this is mid week in a softer part of our season, but it will still probably be over a quarter of a million dollars to our properties. we're focusing on just protecting the prop
CNBC
Oct 29, 2012 9:00am EDT
big hit. the place to watch. evacuated yesterday by 4:00 p.m. and chris christie declaring a state of emergency there because of how bad conditions are supposed to get there. it's only 9:00 a.m. right now. you can see how bad it's getting. the waves are spilling up into the dunes and there is flooding in the street. there's structural damage just a couple blocks away that we'll check out. definitely a strengthening storm here on the shore of new jersey. carl? >> kayla, thank you. we'll come back to you a lot today. kayla tausche in cape may. 60 million people affected by this. it's a sixth of the country. >> i want to say that i am not the reason why kayla is down there in harm's way. it is not my fault. >> no one would want to be held responsible for that. >> somehow i'm her father. it's not my daughter. she's not down there. could you check my house in ocean grove where i have already written it off if you're down there. >> reporter: send me the address, jim. i'll walk over there and see how it looks. we're here. we might as well, right. >> i never felt it was such bad idea to ha
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